In 10 years’ time, there will be more than 100 billion people, devices and systems connected to the Internet of Things, and each connected device will be equipped with dozens of sensors, says Boris Felgendreher, director of marketing, EMEA, GT Nexus.
“You have big data and cloud platforms and the Internet of Things all coming together at the same; it’s a pretty unique time in history and it really changes the game. What people had hoped for when the first sensors and ID tags showed up in the supply chain is now becoming a reality.”
The recently released 2016 MHI Annual Industry Report—Accelerating change: How innovation is driving digital, always-on supply chains, supports that prediction. Industry professionals surveyed for the report identified sensors and automatic identification as one of the eight technologies that will enable the always-on supply chain.
According to the report, 47% of respondents felt sensors and automatic identification technologies have the potential to either create competitive advantage or disrupt supply chains. Forty-four percent are currently using these technologies and 87 percent expect to be using them in five years.
Predictive analytics and cloud computing technologies were also covered in the report, with almost half (45%) of respondents saying they currently utilize cloud computing in their supply chains. Another 22% say they expect to implement the technology within the next one to two years and adoption rates are expected to surge to 86% over the next six to 10 years.
Additionally, 44% of respondents say that predictive analytics has the potential to be a disruptive or competitive force in their industry. While the adoption rate for predictive analytics in supply chains stands at just 22%, it is expected to grow to 80% over the next six to 10 years.
By Mary Lou Jay